Results 23,441-23,460 of 27,019 for speaker:Michael Noonan

Written Answers — Department of Finance: Ministerial Meetings (5 Jul 2016)

Michael Noonan: The Deputy will appreciate that my officials and I regularly meet at various levels with representatives of the banks. Based on a reasonable search of the material available in my Department in respect of the question asked, the information below sets out the meetings held.  The Deputy will be aware that I met at senior management level with the main banks listed in May and...

Written Answers — Department of Finance: Charities Regulation (5 Jul 2016)

Michael Noonan: I am advised by the Revenue Commissioners that for reasons of taxpayer confidentiality it cannot comment on individual cases. By way of general comment, Revenue is responsible for administering the Charitable Tax Exemption scheme in accordance with Section 207 and the Donations to Approved Bodies scheme, insofar as it relates to charities, in accordance with Section...

Written Answers — Department of Finance: Fiscal Data (5 Jul 2016)

Michael Noonan: The Summer Economic Statement (SES) included a macroeconomic assessment of the impact of a UK decision to leave the European Union. This decision will have an adverse impact on the growth outlook. In this context, the more traditional exporting sectors are particularly exposed, especially to bilateral euro sterling exchange rate developments. My Department's initial estimate, based on the...

Written Answers — Department of Finance: Banking Sector Regulation (5 Jul 2016)

Michael Noonan: The Central Bank of Ireland has advised me that there is no restriction on the interaction between the loan to value (LTV) and the loan to income (LTI) residential mortgage lending macro prudential rules. For principal dwelling home mortgage lending, up to 15% of new lending is allowed above the LTV thresholds and up to 20% of new lending is allowed above the LTI threshold. The Central Bank...

Written Answers — Department of Finance: Departmental Staff Data (5 Jul 2016)

Michael Noonan: As the Deputy is aware, there has been significant restructuring in my Department during the years 2011 to 2016. In 2011 the Department of Public Expenditure & Reform was established resulting in a significant proportion of my staff and functions transferring to that Department. In addition, following recommendations of the report of The Independent Review Panel on Strengthening...

Written Answers — Department of Finance: Economic Growth (6 Jul 2016)

Michael Noonan: I am greatly encouraged by the latest data showing that the economic recovery is now firmly established with growth of 7.8 per cent recorded in 2015, the fastest rate in Europe. Importantly, the expansion in economic activity, initially led by the exporting sectors, is now more broadly based with growth now increasingly driven by domestic factors. Domestic demand made a strong positive...

Written Answers — Department of Finance: UK Referendum on EU Membership (6 Jul 2016)

Michael Noonan: In advance of the UK referendum, my Department conducted a risk analysis of the possible economic impacts on Ireland from a UK exit, the results of which were published in Box 2 of the Summer Economic Statement.  The analysis used the ESRI HERMES macroeconomic model to estimate the impacts on Ireland, based on a range of scenarios for the UK. The HERMES model has been used for over...

Written Answers — Department of Finance: IMF Loan (6 Jul 2016)

Michael Noonan: Ireland received SDR19.5 billion, circa €22.5 billion, from the IMF Extended Fund Facility as part of the three-year external financial support programme. The NTMA completed the third early repayment of Ireland's IMF loan facility on the 20 March 2015, bringing the total amount repaid to SDR15.7 billion, or approximately €18.3 billion. The SDR 15.7 billion repayment, 81% of...

Written Answers — Department of Finance: Pension Levy (6 Jul 2016)

Michael Noonan: I am advised by Revenue that the Pension Scheme Levy was introduced in 2011. For the years 2011, 2012 and 2013 the rate was 0.60% of the scheme assets. For the year 2014 the rate was 0.75% of the assets and for the year 2015, the final year of the levy, the rate was 0.15%. Under the legislation, the payment of the levy is treated as a necessary expense of a pension scheme and the trustees...

Written Answers — Department of Finance: Home Renovation Incentive Scheme (6 Jul 2016)

Michael Noonan: I propose to take Questions Nos. 85 to 87, inclusive, together. The Home Renovation Incentive provides tax relief by way of a tax credit at 13.5% of qualifying expenditure on repairs, renovations and improvement works on a person's main home or rental property. Works such as the replacement of a gas boiler, replacement of pipes or the installation of triple-glazed windows come...

Written Answers — Department of Finance: Vehicle Registration (6 Jul 2016)

Michael Noonan: Revenue has responsibility for the ongoing enforcement of the regulations relating to Vehicle Regulation Tax (VRT) payable on the registration of motor vehicles within the State. I am advised by Revenue that there has been no particular increase in the enforcement activity undertaken in relation to VRT matters. There is a provision whereby a State resident who is employed by an employer...

Written Answers — Department of Finance: Tax Code (6 Jul 2016)

Michael Noonan: A Post-Budget 2016 Ready Reckoner is available on the Revenue Statistics webpage at . In relation to the Deputy's question, this Ready Reckoner shows a wide range of detailed information, including, on Page 6, the estimated cost to the Exchequer of changes to the earned income tax credit. All figures provided in the Ready Reckoner are estimates for 2016 incomes from the Revenue tax...

Written Answers — Department of Finance: Tax Code (6 Jul 2016)

Michael Noonan: The annual investment limit per individual for the Employment and Investment Incentive is €150,000. This limit was increased from €31,750 in Finance Act 2007, when the Incentive was known as the Business Expansion scheme.  The Deputy may be aware that all of the relief available under the EII was removed from the scope of the High Earners...

Written Answers — Department of Finance: Tax Code (6 Jul 2016)

Michael Noonan: I am informed by the Revenue Commissioners that, as tax returns do not currently separately identify "entrepreneurial" gains from other gains, there are no data available to accurately cost these proposed measures. However, on the basis of making various assumptions, it is tentatively estimated that the costs of the changes proposed in the Deputy's question are as shown the table. It should...

Written Answers — Department of Finance: VAT Rate Reductions (6 Jul 2016)

Michael Noonan: VAT rates in Ireland are subject to the constraints of EU VAT law. In general, the EU VAT Directive provides that the standard VAT rate - 23% in Ireland - must apply to the majority of goods and services. Lower VAT rates may only apply where expressly provided for in the VAT Directive or where an historic derogation applies. One such historical derogation that applies to Ireland under...

Written Answers — Department of Finance: Charities Regulation (6 Jul 2016)

Michael Noonan: As the Deputy will be aware, I do not have ministerial responsibility for grants or funding provided to a charity. I am advised by the Revenue Commissioners that for reasons of taxpayer confidentiality it cannot comment on individual cases. By way of general comment, Revenue is responsible for administering the Charitable Tax Exemption scheme in accordance with Section 207 and...

Written Answers — Department of Finance: Appointments to State Boards (6 Jul 2016)

Michael Noonan: In response to the Deputy's question, I have provided details of the appointments made, the names of those appointed and the relevant position on each State Board. In relation to names on shortlists created, the Public Appointments Service has advised me that it is strongly of the view that those names are covered by personal confidentiality and also that the public interest is not...

Written Answers — Department of Finance: Public Sector Staff Data (6 Jul 2016)

Michael Noonan: As the Deputy may be aware, the Civil Service does not collect data pertaining to the ethnic and cultural background of its currently serving staff. In relation to bodies under the aegis of my Department such information is not generally available. Where the ethnic and cultural background of individuals may be evident within a body under my Department's remit due to the small numbers...

Written Answers — Department of Finance: Irish Water Funding (7 Jul 2016)

Michael Noonan: I presume that the "debt portion of the Irish Water capital programme" mentioned by the Deputy in his question refers to the direct borrowing undertaken by Irish Water from commercial sources.  As Irish Water is classified in General Government, this commercial borrowing is included in the General Government Debt (GGD). By end 2015, Irish Water's...

Written Answers — Department of Finance: Mortgage Debt (7 Jul 2016)

Michael Noonan: The Deputy is correct that the Code of Conduct on Mortgage Arrears (CCMA) provides that in the case of joint borrowers who notify the lender in writing that they have separated or divorced, the lender should treat each borrower as a single borrower under this Code (except to the extent that an action requires, as a matter of law, the agreement of both borrowers). It is...